$BTC 🚨Bitcoin hits the lowest level since November 2024🚨
Bitcoin price closed below the 61.8% Fibonacci retracement level (from the August 2024 low of $49,000 to the October 2025 all-time high of $126,199) at $78,490 on Sunday. It corrected nearly 4%, hitting a low of $72,945 on Tuesday (a level not seen since early November 2024). As of writing on Wednesday, BTC trades at $75,700.
If BTC resumes its downward trend and closes below the daily support at $73,072 on a daily basis, it could extend the decline toward the key psychological level of $70,000.
The Relative Strength Index (RSI) on the daily chart reads 25, an extreme oversold condition, indicating strong bearish momentum. The Moving Average Convergence Divergence (MACD) also showed a bearish crossover on January 20, which remains intact with rising red histogram bars below the neutral level, further supporting the negative outlook.
On the other hand, if BTC recovers, it could extend the advance toward the 61.8% Fibonacci retracement level at $78,490.
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